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~ 1 ~
Project Report on SAARC (South Asian Association for Regional Cooperation)
In partial fulfilment of requirement for the
Award of Degree of M.Com
Subject:
Economics Of Global Trade & Finance
Submitted By:
Mr. Hitesh Rohra
Roll No. 25
M.Com. Part – I, Semester - I
Under the Guidance of:
Prof. Mr. Shyam Leelani
SMT. CHANDIBAI HIMATHMAL MANSUKHANI COLLEGE
ULHASNAGAR – 421003
UNIVERSITY OF MUMBAI
2014 – 2015
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This is to certify that, Mr. Hitesh Rohra of M.Com Part – I, has successfully
completed the project in Economics Of Global Trade And Finance titled
“SAARC (South Asian Association for Regional Cooperation) ” under my
guidance for the academic year 2014-15. The information submitted is true
and original as per my knowledge.
Mr. Shyam Lilani
(Internal Guide)
Prof. Gopi Shamnani Dr. Padma V.
(Coordinator, M.Com) Deshmukh (I/C Principal)
________________
External Examiner
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DDEECCLLAARRAATTIIOONN
I, Mr. Hitesh Rohra student of SMT. CHANDIBAI HIMATMAL
MANSUKHANI COLLEGE, ULHASNAGAR studying in M.Com Part – I,
Semester – I, hereby declare that I have completed this project on “SAARC
(South Asian Association For Regional Cooperation)” for the subject
“Economics Of Global Trade & Finance” in the academic year 2014-
15.The information submitted is true and original to the best of my
knowledge.
_______________
Mr. Hitesh Rohra
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ACKNOWLEGEMENT
To list who all have helped me is difficult because they are so
numerous and the depth is so enormous.
I would like to acknowledge the following as being idealistic
channels and fresh dimensions in the completion of this project
I take this opportunity to thank the University of Mumbai
forgiving me chance to do this project.
I would like thank my Principal, Dr. Padma V. Deshmukh for
providing the necessary facilities required for completion of this
project.
I would also like to express my sincere gratitude towards my
project guide Prof. Mr. Shyam Lilani whose guidance and
care made the project successful.
I would like to thank my college library, for having provided
Various reference books and magazines related to my project.
Lastly I would like to thank each & every person who directly or
indirectly helped me in completion of the project especially my
parents & peers who supported me throughout my project.
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Executive Summary
South Asian Association for Regional Cooperation (SAARC) consisting
of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka
was launched in the first Summit of the Heads of the Governments and
States in 1985. Afghanistan is now the eight member state included in
the SAARC forum since its 14th Summit in 2007. Though the SAARC
started a large number of diverse programme on a regional basis.
~ 6 ~
CONTENTS
S.No. Topic Page No
1 Introduction 07
2 Members & Observers Of SAARC 11
3 Organizational Structure Of SAARC 13
4 SAARC Areas Of Co-Operation 22
5 Agreements, Declarations & Conventions
OF SAARC
26
6 Summits & Meetings 31
7 Success & Failures 41
8 Conclusion 51
9 References/Biblography 53
~ 7 ~
INTRODUCTION OF SAARC
The South Asian Association for Regional Cooperation (SAARC)
was established when its Charter was formally adopted on
December 8, 1985 by the Heads of State or Government of
Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri
Lanka.
SAARC provides a platform for the peoples of South Asia to work
together in a spirit of friendship, trust and understanding. It aims
to accelerate the process of economic and social development in
Member States.
SAARC is an eco-political organization of 8
South Asian nations, which was established
on 8th
December 1985 for friendship and
cooperation among themselves and with
other developing countries.
Covering a population of more than 2 billion,
SAARC is the largest regional organization in
the world.
~ 8 ~
HISTORY
Idea of regional cooperation in South Asia
was discussed in at least three conferences:
1-the Asians Relations Conference in New
Delhi in April 1947
2-the Baguio Conference in the Philippines in
May 1950,
3-the Colombo Powers Conference in April
1954
The first concrete proposal for establishing a
framework for regional cooperation in South
Asia was made by the late president of
Bangladesh, Zia- ur -Rehman, on May 2,
1980.
Established on 8 December 1985.
Its seven founding members are Sri Lanka,
Bhutan, India, Maldives, Nepal, Pakistan,
and Bangladesh.
~ 9 ~
PRINCIPLES
• Respect for sovereignty, territorial integrity,
political equality and independence of all
members states.
• Non-interference in the internal matters.
• Cooperation for mutual benefit.
• All decisions to be taken unanimously.
• All bilateral issues to be kept aside and only
multilateral issues to be discussed.
~ 10 ~
AIMS and OBJECTIVES
Welfare of the people of south Asia.
Economic growth, social progress and
cultural development .
Strengthen selective self-reliance among the
countries of south Asia.
Understanding and appreciation of one
another's problems.
Strengthen cooperation among themselves
as well as with other developing countries
and international and regional organizations
~ 12 ~
CURRENT MEMBERS
1. Afghanistan
( joined the organization in 2007)
2. Bangladesh
3. Bhutan
4. India
5. Maldives
6. Nepal
7. Pakistan
8. Sri Lanka
~ 13 ~
OBSERVERS
1.Australia
2.China
3.European Union
4.Japan
5.Iran
6.Mauritius
7.Myanmar
8.S. Korea
9.USA
~ 14 ~
POTENTIAL FUTURE MEMBERS
• Myanmar has expressed interest in
upgrading it's status from an observer
to a full member of SAARC.
• Russia has expressed interest in
becoming an observer of SAARC.
OTHERS
South Africa has participated in
meetings.
~ 16 ~
COUNCIL
At the top, there is the Council represented
by the heads of the government of the
member countries. The council is the apex
policy making body. It meets once in 2
years time.
~ 17 ~
COUNCIL OF MINISTERS
** It is to assist the council. It is
represented by the foreign ministers of the
member countries. Its functions include:
• Formulation of policies
• Review of functioning
• Deciding new areas of cooperation
• Chalk out additional mechanism
• Decide about general issues of common
interests of the SAARC members.
~ 18 ~
STANDING COMMITTEE
** It is comprised by the foreign
secretarian of the member government. Its
major functions are:
• To monitor and co-ordinate the
programmes
• To determine inter-sectored priorities
• To mobilize cooperation within and
outside the region
• To deal with the modalities of
financing.
~ 19 ~
PROGRAMMING COMMITTEE
** It consist of the senior official of the
member governments. Its functions
include:
• Scrutinizing the budget of the
secretariat
• Finalizing the annual schedule
• External activities assigned by the
standing Committee
Analyses the respects of
~ 20 ~
TECHNICAL COMMITTEE
**It consist of the represented of the
member nations. Its function are:
• To formulate project and programmes
• To monitor and execute the projects
• To submit reports.
• Cover Areas like Agriculture,
Communication, Environment, Rural
Development, Health and Population,
Science and Technology, Tourism and
Transport
~ 21 ~
SECRETARIAT
** The SAARC secretariat is located in
Nepal. The secretariat is headed by the
secretary-General appointed by the Council
of Ministers. Its function include:
• Coordination, execution and monitoring
of SAARC activities
• Servicing the SAARC meetings
• Works as communication link between
the SAARC and other international
forums.
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• Agriculture & Biotechnology
• Trade & Finance
• Education
• Information , Communication & Media
• Science & Technology
• Energy & Environment
• Tourism & Social Development
• Culture
People-to-People Contacts
~ 24 ~
Trade & Finance
• The acceleration of economic growth is
a Charter objective of SAARC.
Corporation in core areas of trade and
finance b/w the SAARC members in
1991.
The following important processes of
SAARC are promoting cooperation in the
field of Trade, Economy and Finance
• Customs Cooperation
• South Asian Free Trade Area (SAFTA)
(Custom Duties down to 20%)
• SAARC Preferential Trading
Arrangement (SAPTA)
~ 25 ~
POLITICAL ISSUES
• The dispute over Kashmir’s accession
to India has been standing in the way of
the lasting peace and prosperity of the
Indian subcontinent as well as SAARC.
~ 27 ~
AGGREMENTS
Agreement for establishment of SAARC
Arbitration Council
Final Agreement on Avoidance of Double
Taxation
Final Agreement on Customs Matters
CHARTER OF SDF 31 July 2008
Agreement on establishing the SAARC food
bank
Agreement on south Asian Free Trade Area
(SAFTA)
Agreement on the Establishment of South
Asian Regional Standards Organization
(SARSO)
Agreement on Avoidance of Double Taxation
~ 28 ~
DECLARATIONS
• Ministerial Declaration on Global Economic
Crisis
• Colombo Statement on Children of South
Asia
• Declaration on Cooperation in Combating
Terrorism
• Islamabad Declaration on Health, 2005
• Colombo Declaration on a Common
Environment Program
• Common Position on Climate Change, Nov.
1998
• Rawalpindi Resolution on Children of South
Asia, Aug. 1996
• New Delhi Declaration of Environment
Ministers, Apr, 1997
• Declaration of Commerce Ministers May
1998
~ 29 ~
CONVENTIONS
SAARC Convention on Combating and
Prevention of Trafficking in Women and
Children for Prostitution
The purpose of this Convention is to effectively
deal with the various aspects of prevention and
suppression of trafficking in women and children
and to prevent the use of women and children
prostitution networks.
Convention on Promotion of Welfare of
Children
The purpose of this Convention is to promote
cooperation amongst Member States so that
they take effective steps for the welfare of
children.
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Convention on Mutual Assistance on
Criminal Matters and Suppression of
Terrorism
The States Parties shall provide widest possible
measures of mutual legal assistance in criminal
matters, namely investigations, prosecution and
resulting proceedings.
SAARC Convention Narcotics Drugs
Important steps have been taken to enforce the
provisions of the Regional Convention on
Narcotic Drugs.
~ 32 ~
SUMMITS
1st
Summit (Dec 1985):
Venue: Dhaka
• Reaffirmation of the UN Charter and respect
for each other’s sovereignty.
• Concern over the global economic crisis.
• Declaration of belief in the objectives and
the continued relevance of the Non Aligned
Movement.
• Expression of concern over the poverty in
the SAARC region and commitment to
improving social and economic conditions
2nd
Summit (1986):
Venue: Bangalore
• Rehash of the goals and statements of the
first summit.
• Strengthening of ties between member
states.
• Condemned terrorism.
~ 33 ~
3rd
Summit (1987):
Venue: Kathmandu
• Decision to initiate study of natural disasters
and its after-effects.
• Expression of satisfaction over progress in
implementation of IPA.
• Call for increased people to people contact
and greater NGOs participation.
4th
Summit (1988)
Venue: Islamabad
• Expression of outrage over attempted coup
in Maldives and declaration of support to her
government.
• 1989 declared as the “SAARC Year Against
Drug Abuse.”
• 1990 declared as the "SAARC Year of the
Girl Child".
• Launch of "SAARC-2000-A Basic Needs
Perspective".
5th
Summit (1990):
~ 34 ~
Venue: Male
• Decision to build the SAARC Tuberculosis
Centre and the SAARC Documentation
Centre in Bangladesh and India respectively.
• Declaration of the period 1991-2000 as the
“Decade of the girl child”.
6th
Summit (1991):
Venue: Colombo.
• Decision to establish an independent South
Asian Commission on Poverty Alleviation.
• Approval for the Inter Governmental Group
to be set up.
7th
Summit (1993):
Venue: Dhaka
• Commitment to end poverty in South Asia by
2002 through a set of strategies known as
the “Agenda of Actions.”
• Appreciation for the first ever South Asian
festival of SAARC Countries held in 1992.
The festival promoted culture.
~ 35 ~
8th
Summit (1995):
Venue: Delhi
• 1994 marked as the SAARC Year of Youth.
• 1996 marked as the SAARC Year of Literacy.
9th
Summit (1997):
Venue: Male
• 1997 designated the "SAARC Year of
Participatory Governance" .
• Agreement to study the social compulsions
that lead to child labour.
10th
Summit (1998):
Venue: Colombo
• Decision to setup a committee of experts to
aide in the formulation of SAFTA.
• Directive for the formulation of SAARC’s
social charter issued.
11th
Summit (2002):
Venue: Kathmandu
12th
Summit (2004):
~ 36 ~
Venue: Islamabad
13th
Summit (2005):
Venue: Dhaka
• 2006-2015 declared as the “Decade of
Poverty Alleviation”.
• Agreements signed related to customs
assistance, arbitration and tax assistance.
14th
Summit (2007):
Venue: Dehli
• SAARC Agenda for Culture launched.
• South Asian university to be established in
India.
15th
Summit (2008):
Venue: Colombo.
16th
Summit(2010):
Venue: Thimpu
• Agreement to form the South Asia Forum.
17th
Summit (2011):
Venue: Addu Citty
~ 37 ~
• Declarations and endorsements.
MINISTERIAL MEETINGS
Meetings held between the ministers of
member states of various portfolios.
More than 30 such meetings have been
held.
Rawalpindi Resolution:
• August 1996
• Related to the issue of children rights.
• Declaration of safeguarding of rights of
children to an education plus curbing
child labor.
Environment Ministers meeting:
• April 1997
~ 38 ~
• Reaffirmation of goals of international
conventions.
• Proposal for environmental
safeguarding of South Asian seas.
Commerce Minister’s Meeting:
• May 1998.
• Held in Geneva right after the WTO
ministerial meeting.
• Joint statement demanding the rights
of developing nations.
Islamabad Declaration:
• July 2005
• Related to health issues.
• Agreement to setup Expert Group on
Population to aide sharing of expertise
and experience related to population
issues.
~ 39 ~
• Emphasis laid on achieving the MDGs
and on allocating a larger share of GDP
on health related matters.
Cooperation in Counter Terrorism:
• Colombo 2009.
• Ratification and implementation of
SAARC Convention on Mutual Legal
Assistance in Criminal Matters.
• Establishment of High Level Group of
Eminent Experts.
~ 41 ~
ECONOMIC ACHIEVEMENTS
SAPTA(SAARC preferential trading
arrangement)was signed on 7 December,
1995
SAFTA(South Asian Free Trade Area) was
signed in Islamabad in January 2004
SAARC chamber of commerce and industry
(SCCI)
SAARC constitutes South Asian
Development Fund(SADF)
Signed an agreement of mutual assistance.
Avoidance of double taxation were
signed.
~ 43 ~
INTEGRATED PROGRAMME OF ACTION
(IPA)
• Agriculture
• Rural development
• Science and technology
• Health
• Transport
• Sports
• Arts
• Culture and
• Population activities
~ 44 ~
LITERACY AND EDUCATION
• Till 2013 going to establish a common
university for education in Delhi
POVERTY ALLEVIATION
Regional food security essence
Promoted global objective of shelter for
all.
~ 45 ~
TERRORISM AND DRUG TRAFFICKING
• Convention on terrorism was signed in
November,1987
• SAARC convention on narcotic drugs signed
on November, 1990
• SAARC terrorist offences monitoring
desk(STOMD)
• SAARC drug offences monitoring
desk(SDOMD)
~ 46 ~
PEOPLE TO PEOPLE CONTACT
• SAVE (SARRC Audio Visual Exchange)
was implemented.
• Library of SAARC
• Talks between countries leads to the
diffusion of tension
~ 47 ~
FALIURES OF SAARC
• India tries to dominate the function and
activities of SAARC
• Large variety of different political system
• Large variety regional and cultural
differences
• They lack financial resources and advance
technologies
• Involvement of external actor
• Internal problems constituting social
economic and developmental and
growth issues.
• Bilateral disputes and differences
• Food Security Reserve failed to meet
the need of Bangladesh
• Suffers from an acute resource crunch
~ 50 ~
• The Heads of State or Government
expressed their deep satisfaction over the
positive outcome of the Seventh SAARC
Summit and expressed their conviction that
this Summit would greatly contribute
towards strengthening the policies and
cooperative actions of the Member States in
response to the challenges of the 1990s and
beyond in areas where SAARC has a distinct
contribution to make. They also reiterated
once again their determination to strengthen
and enrich SAARC as an instrument -
endowing it with a clear set of forward
looking goals and objectives as well as all
the requisite institutional capacities - so
that it can continue to work to enrich not
only the lives of its own members but also
promote peace, progress and stability in
South Asia in a larger context .
~ 52 ~
• "Nepal’s Arjun Bahadur Thapa is SAARC’s
new Secretary General". IANS.
news.biharprabha.com. Retrieved 3 March
2014.
• Jump up^ "Mohamed Ibrahim
GhafooriI[sic]". SAARC. Retrieved 27 August
2014.
• Jump up^ "MJH Jabed". SAARC. Retrieved
27 August 2014.
• Jump up^ "Singye Dorjee". SAARC. Retrieved
27 August 2014.
• Jump up^ "L. Savithri". SAARC. Retrieved 27
August 2014.
• Jump up^ "South Asian Association for
Regional Cooperation : Home". SAARC.
Retrieved 27 August 2014.[citation needed]
• Jump up^ SAARC. "Dhan Bahadur Oli".
Retrieved 27 August 2014.
• Jump up^ SAARC. "Ahmar Ismail". Retrieved
27 August 2014